WAVE Nasdaq Electric Services Financials FY2019βFY2025
Eco Wave Power Global AB (publ) had $0.0M of revenue in fiscal 2025, down 77.4% on the year before.
Hi! I read Eco Wave Power Global AB (publ)βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β77.4%
No. Sales fell 77.4% last year.
Does it make a profit?
β9,728.9%
No. It lost money last year.
How healthy are the accounts?
0 / 7
Weak. It passes 0 of 7 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Eco Wave Power Global AB (publ) did it, and the next one. Share prices often move a lot on those days.
Next results
November 11, 2026
Wednesday Β· in 16 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Mar 12, 2026 | Period ended Dec 31, 2025 | Before the market opens | 20-F β |
| Mar 3, 2025 | Period ended Dec 31, 2024 | Before the market opens | 20-F β |
| Mar 28, 2024 | Period ended Dec 31, 2023 | After the market closes | 20-F β |
| Apr 27, 2023 | Period ended Dec 31, 2022 | After the market closes | 20-F β |
| Apr 28, 2022 | Period ended Dec 31, 2021 | After the market closes | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Eco Wave Power Global AB (publ) had $0.0M of revenue in fiscal 2025, down 77.4% on the year before. Its operating margin was β8,242.1%, down 6,850.4Β pts: of every 100 in sales, about β8,242 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA Β· Eco Wave Power Global AB (publ) lost $3.7M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Eco Wave Power Global AB (publ) has $5.9M more cash than debt.
Cash, debt and the ratios that show how comfortably Eco Wave Power Global AB (publ) can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $14.6M | $5.3M | $4.3M | $7.8M | $6.0M |
| Debt incl. finance leases | $2.0M | $1.0M | $0.1M | $0.1M | $0.2M |
| Debt / equity | 0.1x | 0.1x | 0.0x | 0.0x | 0.0x |
| Interest coverage | β76.8x | β92.5x | β73.1x | β63.2x | β101.0x |
| Current ratio | 16.7x | 5.7x | 4.1x | 4.2x | 2.5x |
| Quick ratio | 16.7x | 5.7x | 4.1x | 4.2x | 2.5x |
| Total assets | $16.6M | $11.9M | $10.0M | $10.7M | $8.1M |
| Total liabilities | $1.9M | $2.0M | $2.2M | $2.4M | $2.6M |
| Shareholders' equity | $14.7M | $9.9M | $7.8M | $8.3M | $5.5M |
| Net debt (β = net cash) | β$12.6M | β$4.3M | β$4.2M | β$7.7M | β$5.9M |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Eco Wave Power Global AB (publ) passes 0 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 3 | 3 / 8 | 4 / 9 | 5 / 7 | 1 / 7 | 0 / 7 |
| Accruals ratio | β | 1.2% | 1.2% | β3.1% | β | β | β |
| Altman Z'' | β | 8.83 | 10.79 | 4.72 | 2.20 | 2.01 | β4.78 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $0.0M | β$0.1M | $0.0M | $0.0M | $0.3M | $0.2M | $0.0M |
| Net interest income | $0.0M | β$0.1M | β$0.1M | β$0.0M | β | β | β |
| Gross profit | β | β | $0.0M | $0.0M | $0.2M | $0.1M | $0.0M |
| Research and development | $0.2M | $0.4M | $0.7M | $0.9M | $0.5M | $0.5M | $0.7M |
| Operating income | β$1.9M | β$1.8M | β$3.1M | β$3.6M | β$2.4M | β$2.3M | β$3.1M |
| Interest expense | $0.1M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Pretax income | β$2.0M | β$2.0M | β$2.3M | β$2.9M | β$1.9M | β$2.1M | β$3.7M |
| Income tax | β | $2.0M | $2.3M | $2.9M | β | β | β |
| Net income | β$2.0M | β$2.0M | β$2.3M | β$2.9M | β$1.7M | β$2.1M | β$3.7M |
| Net income to common | β$2.0M | β$2.0M | β$2.3M | β$2.9M | β$1.7M | β$2.1M | β$3.7M |
| Diluted EPS | β | β$0.48 | β$0.48 | β$0.56 | β$0.56 | β$0.32 | β$0.64 |
| Diluted shares | β | 0.00B | 0.00B | 0.01B | 0.01B | 0.01B | 0.01B |
| Cash flow | |||||||
| Cash from operations | β$1.2M | β$2.1M | β$2.5M | β$2.5M | β | β | β |
| Capital expenditure | $0.2M | $0.2M | $0.0M | $0.0M | $0.0M | $0.0M | $0.5M |
| Free cash flow | β$1.3M | β$2.3M | β$2.5M | β$2.5M | β | β | β |
| Depreciation and amortization | $0.0M | $0.1M | $0.2M | $0.2M | $0.2M | $0.1M | $0.3M |
| Stock-based compensation | β | β | β | β | β | β | $0.0M |
| Share buybacks | β | β | β | β | β | $0.1M | β |
| Dividends and buybacks | β | β | β | β | β | $0.1M | β |
| Balance sheet | |||||||
| Cash and short-term investments | $11.7M | $10.7M | $14.6M | $5.3M | $4.3M | $7.8M | $6.0M |
| Total debt | β | $2.1M | $2.0M | $1.0M | $0.1M | $0.1M | $0.2M |
| Current assets | β | $11.0M | $15.1M | $10.5M | $8.8M | $9.4M | $6.5M |
| Current liabilities | β | $0.6M | $0.9M | $1.9M | $2.1M | $2.2M | $2.6M |
| Property and equipment, net | $1.3M | $1.5M | $1.2M | $0.7M | $0.6M | $0.6M | $0.9M |
| Total assets | β | $12.7M | $16.6M | $11.9M | $10.0M | $10.7M | $8.1M |
| Total liabilities | β | $1.9M | $1.9M | $2.0M | $2.2M | $2.4M | $2.6M |
| Shareholders' equity | $11.4M | $10.8M | $14.7M | $9.9M | $7.8M | $8.3M | $5.5M |
| Margins | |||||||
| Gross margin | β | β | 12.9% | 15.4% | 80.7% | 75.0% | 57.9% |
| Operating margin | β8,108.3% | 3,366.7% | β9,903.2% | β13,873.1% | β788.6% | β1,391.7% | β8,242.1% |
| EBITDA margin | β7,950.0% | 3,138.9% | β9,103.2% | β13,069.2% | β733.0% | β1,311.9% | β7,573.7% |
| Net margin | β8,312.5% | 3,627.8% | β7,571.0% | β11,157.7% | β558.8% | β1,236.3% | β9,728.9% |
| FCF margin | β5,579.2% | 4,229.6% | β8,203.2% | β9,480.8% | β | β | β |
| Net interest share of revenue | 100.0% | 100.0% | β171.0% | β176.9% | β | β | β |
| Returns | |||||||
| Return on capital | β | β65.7% | β115.7% | β51.3% | β53.2% | β311.5% | β |
| Return on capital employed | β | β15.0% | β19.5% | β35.9% | β30.6% | β27.7% | β56.8% |
| Return on equity | β17.5% | β17.7% | β18.4% | β23.6% | β19.3% | β25.8% | β53.6% |
| Return on assets | β | β15.4% | β16.0% | β20.3% | β15.6% | β20.1% | β39.3% |
| Return on tangible equity | β17.5% | β18.1% | β15.9% | β29.4% | β21.9% | β25.0% | β67.4% |
| Growth | |||||||
| Revenue growth | β | β325.0% | β | β16.1% | 1,076.9% | β45.1% | β77.4% |
| Share count change | β | β | 13.2% | 11.5% | 0.0% | 0.2% | 5.0% |
| Financial health | |||||||
| Debt / equity | β | 0.2x | 0.1x | 0.1x | 0.0x | 0.0x | 0.0x |
| Interest coverage | β23.4x | β47.8x | β76.8x | β92.5x | β73.1x | β63.2x | β101.0x |
| Current ratio | β | 18.8x | 16.7x | 5.7x | 4.1x | 4.2x | 2.5x |
| Quick ratio | β | 18.8x | 16.7x | 5.7x | 4.1x | 4.2x | 2.5x |
| Capital allocation | |||||||
| Capex / revenue | 641.7% | β327.8% | 41.9% | 11.5% | 2.0% | 19.6% | 1,381.6% |
| Stock comp / revenue | β | β | β | β | β | β | 97.4% |
| Quality scores | |||||||
| Piotroski F-score | β | β | 3.0 | 4.0 | 5.0 | 1.0 | 0.0 |
| Altman Z'' | β | 8.8 | 10.8 | 4.7 | 2.2 | 2.0 | β4.8 |
| Accruals ratio | β | 1.2% | 1.2% | β3.1% | β | β | β |
Source: SEC EDGAR XBRL filings (CIK 0001846715). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Per-share figures are per US-listed share (1 ADS = 8 ordinary shares). For information only β not investment advice. Check the original filings before relying on any figure.
